'India fast emerging as prominent hub for innovation R&D'

PTI|

Feb 10, 2008, 07.03 PM IST

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MUMBAI: With a rapidly developing scientific and technology base, India is fast emerging as a prominent hub of innovation R&D for global as well as local Indian manufacturing companies, speakers said at the Innovation Technologies for Manufacturing (ITM) 2008 Expo, here.

The Ministry of Food Processing is proposing to start special technoparks for food processing industry which will benefit farmers, Minister of State (Independent Charge) Ministry of Food Processing, Government of India, Subodh Kant Sahai, said.

Presently, around eight to ten per cent of food is being processed in India whereas abroad 70 to 80 per cent is being processed in overseas. India needs to make more investment in innovative technology, Sahai added.

The All India Association of Industries also signed a MoU with the Department of Economics and Science, Government of Saarland (Germany) and with the head of Economic and Foreign Affairs Ministry, Government of Romania for fostering technological alliances.